When a buyer sues a seller, often it is because of failure to disclose a material fact. Such information is one that could influence the buyer’s decision to buy and/or how much to pay.
Real estate licensees have a duty to explain to sellers their disclosure responsibilities (when they are the listing agent) and to buyers the seller’s obligations (when they are the selling agent). Some agents, because they are inexperienced, not fully competent, or both, fail to inform their buyers and sellers of the consequences of less than complete disclosure. This can be costly to both the client and his agent.Read More